Hi,
I have some investments tracking major international stockmarkets within an Axa Life Policy.
Axa Life has not been accepting new business (for two or three years).
They recently closed several of their funds (e.g. Index tracking funds for Europe, Japan and Pacific Rim), and forcefully transferred me into money market accounts.
I fear they will close more funds in the future, or that the actual costs of managing the funds may increase as the funds become smaller. So I need to find a new home.
Background/Attitude to risk: I have a good job. I have rainyday cash in the bank. My mortgage is a tracker, so I am not interested in paying it down. I have no other debt. I will max out my pension contribution tax relief. There is a chance that I would want to cash in this investment for a house deposit, but that looks very unlikely at the moment given current house prices. I am happy to fully invest it in the stockmarket.
As per "A random walk down wall street" and academic studies, I am interested in a tax efficient, low cost, long term investment that will track the stock market indexes.
Tax note: My Axa life investments are up (need to check, but I guess about 30% up), so I will have a tax hit if I transfer out.
What would you do?
Any suggestions for where I should transfer my investment?
Thanks!
I have some investments tracking major international stockmarkets within an Axa Life Policy.
Axa Life has not been accepting new business (for two or three years).
They recently closed several of their funds (e.g. Index tracking funds for Europe, Japan and Pacific Rim), and forcefully transferred me into money market accounts.
I fear they will close more funds in the future, or that the actual costs of managing the funds may increase as the funds become smaller. So I need to find a new home.
Background/Attitude to risk: I have a good job. I have rainyday cash in the bank. My mortgage is a tracker, so I am not interested in paying it down. I have no other debt. I will max out my pension contribution tax relief. There is a chance that I would want to cash in this investment for a house deposit, but that looks very unlikely at the moment given current house prices. I am happy to fully invest it in the stockmarket.
As per "A random walk down wall street" and academic studies, I am interested in a tax efficient, low cost, long term investment that will track the stock market indexes.
Tax note: My Axa life investments are up (need to check, but I guess about 30% up), so I will have a tax hit if I transfer out.
What would you do?
Any suggestions for where I should transfer my investment?
Thanks!